An economy suffering from high inflation despite low economic growth and high unemployment is experiencing:
A. an economic boom.
B. an economic downturn.
C. hyperinflation.
D. stagflation.
Answer: D
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Describe the relationship between the Federal Reserve and the legislative and executive branches of the U.S. government
What will be an ideal response?
The short-run aggregate supply curve slopes upward as a result of the real balance effect, the interest rate effect, and the international trade effect
Indicate whether the statement is true or false
The direct trade of goods and services for other goods and services is called
A. diversification. B. financial intermediation. C. barter. D. using a medium of exchange.
If the demand curve facing a firm had a price elasticity of demand equal to zero and the firm raised its price, its total revenue would:
A. decrease slightly. B. fall to zero. C. not change. D. increase.